Great Wall Motor unit to acquire chip firm stake

Great Wall Motor Company (SSE:601633) announced that its indirect wholly-owned subsidiary, Nobo Technology, will acquire an 80% equity stake in Wuxi Core Power Semiconductor Technology from Winsome Technology (Tianjin) for RMB 3,792,157.77. Following the acquisition, Nobo Technology will hold 80% of Wuxi Core Power, while Great Wall Motor will retain the remaining 20%. Winsome Technology is controlled by Wei Jianjun, the actual controller of Great Wall Motor, making the transaction a related-party deal. Wuxi Core Power primarily focuses on the research, development, production, and sale of power semiconductor products. The acquisition is intended to enhance industrial synergy and overall competitiveness for Great Wall Motor. The deal has been approved by Great Wall Motors' board of directors.